Canada is an outlier and apparently the only G7 member not to hold at least a 100 tonnes of the decorative, useless, shiny stuff. Apparently their reasoning behind the liquidation was based on their policy at the time of diversifying its portfolio by selling physical commodities and instead 'investing' in 'financial assets' that are 'easily tradable' and have'deep markets' and their preference for yield etc. A very 'trendy' thing to do in the midst of all the QE and stimulus etc etc.
Time will tell if it was a wise move but looking at 'back of the envelope' current prices, yields, risk profiles etc etc and the prices they probably realised around the time of the liquidation it might be a decision they are already regretting and might even more so in future ?
More Central Bank folly much like the Bank of England's/Gordon Brown's disastrous decision of 20 odd years ago perhaps ?
